Apple wants to strike a $2 billion deal for the rights to televise Formula 1 races

In February this year, Apple launched MLS Season Pass — a place to watch Major League Soccer matches that doesn’t require an Apple TV+ subscription (TV+ subscribers get a discount). That service has been very successful (it has 1 million new subscribers), and now Cupertino is trying to strike a similar deal to become the exclusive rights holder for Formula One racing.

And now it’s trying to get a similar deal to become the exclusive rights holder for Formula One racing.

According to Business F1, the deal would cost Apple about $2 billion a year, double what the «Formula One» group receives for global television rights. However, deals are already in place with broadcasters, so the corporation won’t get the full rights right away.

Business F1

One of those broadcasters is Disney-owned ESPN, which owns the rights to the U.S. market until 2025, which is likely the earliest the deal between the Apple giant and Formula 1 can be finalized. The deal will reportedly run for seven years, during which time existing agreements with broadcasters will be phased out (after five years, global rights should remain in the company’s full control).

This also means that Apple will not pay the entire $2 billion a year all at once, but only a portion of that amount proportional to the share of global rights it controls. By comparison, MLS rights cost just $250 million a year. You can watch MLS broadcasts for $15 a month or $29 for the entire season, with Apple TV+ subscribers getting a discounted price — $13 a month or $25 for the season.

Apple TV+ subscribers get a discounted price — $13 a month or $25 for the season.

Apple TV+ is currently producing a Formula 1 movie starring Brad Pitt, directed by Joseph Kosinski and co-produced by — seven-time world champion Lewis Hamilton. The movie will focus on a fictional racing team, but TV+ is also working on a documentary centered on Hamilton.

The film will be about a fictional racing team.